Global Macro / Markets / Investing:
- Dow falls 900 points on lockdown fears as Europe reintroduces tighter measures – NBC
- Andrew Yang: It’s ‘asinine’ for Trump to take credit for stock market highs – Yang
- The US Dollar will likely be devalued 35% in the coming year – Road Work Ahead
- COVID-19 pandemic to put $12 trillion hole in global economic output – Business Today
Americas:
- Record-High Lumber Costs Drive Up New-Home Prices – Magazine
- Consumers’ ‘savings buffer’ accumulated during pandemic could help aid the economy without stimulus – CNBC
- Nearly Two-Thirds of Americans Can’t Pass a Basic Test of Financial Literacy – Time
- Down-to-Earth View of the “Recovery” in Near-Real Time, Eight Months into the Pandemic – Wolf Street
- The economy as we knew it might be over, Fed Chairman says – CNN
- CDC now says face masks protect the wearer — and the economy – Market Watch
- Jobless claims: Another 709,000 Americans filed new unemployment claims last week – Yahoo
- U.S. Unemployment Claims Slip but Hold at High Levels – WSJ
Europe:
- Turkish finance minister resigns in second surprise departure after lira slide – Reuters
- Kim Jong Un vows to punish any North Korean caught wasting food as the country battles severe food shortages amid pandemic – Mazech
- Spain, a very weakened country Spain was the European country that destroyed the most jobs in the first half of the year – Money 2y
- UK out of recession but growth slows in September – BBC
- Are big retailers exploiting lockdown loopholes? – BBC
Asia:
- Alibaba 11/11 Singles day sales of 2020 is New World Record of $74 Billion – Tech Elevation
- Trump administration readies crackdown on U.S. investments in Chinese firms – Reuters
- Japan’s machinery orders fall, overshadowing investment rebound prospects The Japanese economy goes back into crisis – Money 2Y
- China’s Singles Day: 3m people, 4,000 planes and cargo ships – BBC
- Like a Phoenix from the Ashes: The Revival of the Chinese Economy – Jayzoq
Trans-Tasman:
- Foxtel given $10 million federal grant without plan for spending it, FOI documents reveal – ABC
- Victoria records 14 straight days of no new coronavirus cases or deaths – ABC
- NBN blames pandemic for $6.7bn funding blowout as execs rake in bonuses – The Guardian
- Ten SAS soldiers under investigation by war crimes investigators over 12 Afghan deaths – The Age
- Cashless welfare card has little impact on gambling, drug and alcohol abuse, study finds – The Guardian
- Fortescue accused of ‘bullying’ Aboriginal groups to allow destruction of sacred sites – The Guardian
- Upper house votes for Premier Gladys Berejiklian to be referred to ICAC – The SMH
- Vale Sizzler, the cheese toast king that couldn’t keep up with dining trends – ABC
- BOM and CSIRO State of the Climate 2020 shows Australia is experiencing climate change now – ABC
- ‘Long term effects of the pandemic, bushfires will be severe. The recovery will take years’ – The Age
- SA to open its border to Victoria in December – In Daily
- Less than half as many Kiwis returning to New Zealand as a year ago – Interest.co.nz
- Deputy Governor Geoff Bascand says RBNZ doesn’t have mandate to direct banks to lend to a particular sector – Interest.co.nz
- ASB to adopt LVR restrictions immediately – Interest.co.nz
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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